Will Bitcoin hit 2022 low again? - page 11.

Frengki_cisco

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Quote from: EarnOnVictor on August 29, 2022, 01:30:22 PM

A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

Don't know for sure, the crypto market is hard to predict, what will happen next, but some speculation does say Bitcoin has decreased this year, but it is not specified exactly what the lowest price is, predicting $15k, $10k and so on, we'll see what happens.

TravelMug

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I voted "No".

Don't think that we will hit another lower low for this year, I think $17,500 is the bottom already for this year. Next year might be different though, so we will see.

As for the reasons, I'm seeing that the bulls will not let it go down again, will maintain the $20k barrier which we did after going below it in the last 2 days. We we have regain the important support so we are good to sustain it. Perhaps the Mt. Gox is still something that we have to look at, but it seems that it is already price it at the rehab could be in fiat and other cryptos if I'm not mistaken.

mk4

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In summary, if we were in a sort of "normal" economic state (most especially in the US), I'd say that we've bottomed. But since we're in an economic no man's land, there's a good chance that we're going to have a lower bottom.

adaseb

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There is a lot of fud lately and global stock markets aren’t looking too good. The electricity in Europe is getting out of control, war is still ongoing, inflation is still high, shortage of workers still. Doesn’t look well for risk on assets like crypto and stocks.

Then there is the ETH merge and MtGox distribution which is not looking well. So yes it’s possible it can revisit the low. It was pretty close when it almost went to low $19K earlier.

Fundamentals Of

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I voted for I'm indifferent. I am truly indifferent to short-term price changes of Bitcoin. I have already been supporting Bitcoin and hodling for years. I survived the 2018 bear market which was a lot worse than this one we are in right now. I remained with Bitcoin when the price fell from $20,000 all the way to $3,000. Now that the price is $20,000, I don't think I'd be bothered to stick with it some more.

The possibility is open for Bitcoin to move to either direction.

sheenshane

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I'd favor indifferent because Bitcoin price is unpredictable and no one knows where it goes the movement.
But I still have positive faith in Bitcoin that will break the resistance and can create a new ATH by next year, there are 4 months left this year 2022 and I think that's not enough for the price to move up IMO, and that's my personal opinion.

However, ain't surprising seeing the market that there will be a new ATH soon because this was already proven and tested that Bitcoin will always surpass the bear market trend, brace yourself and get ready for that moment, the anticipated moment that possibly will happen.

Duzter

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The market is not the same as traditional stock market, it is completely different. This makes predictions get outlawed with different positive and negativity around the market. For now the price that fell down to $20k have once again bounced back reaching $20.2k which is a growth in short term. If the market is able to withstand the support level, we can expect slow progress from that point. For now this is good, but I find there is large chances for decline in market in the falling months.

Fatunad

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Quote from: EarnOnVictor on August 29, 2022, 01:30:22 PM

A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

No one really knows and this is no some exemption whether you are a professional or a newbie trader because we do all the same thing which is to speculate and make out some analysis basing up on what we do have
encounter in all the years that we've been trading.We didnt even expect that we do able to see 20k price again and going even lower because we've thought that we might be seeing 100k price is a fast pace manner
but the market had proven out that we were wrong and now it do really leaves out that we do make out such analysis from time to time.Decisions made would be definitely be depending
on a trader or someone who do deal up with the market.

EdenHazard

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The next 2-3 days gonna be a crucial one to determine whether are we going to continue the dump or enough the market responding the negative trend on how everyone anticipating mt gox dump in the coming months ... we stuck at $20k level since few days ago and it cannot last for long.

The market seems gonna backup for a while before the mt gox thing officially distributed and we might hit the all time low sooner. Just brace yourself.

arwin100

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Quote from: EarnOnVictor on August 29, 2022, 01:30:22 PM

A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

The damage will create more fear as the dump still continue to happen and I assume that we cannot see some great changes because many people right now are doubting about bitcoin's future especially that there's no big coming on it. Maybe for now we can experience a not good looking market condition because many are in questionable and there's less people will believe that we will have a bull run on next following month.

Charles-Tim

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Nobody knows if bitcoin price will plummet below $17500 or not, but I do not think bitcoin price can decrease below that price. I am lazy to do more searches this night, but according to what I have read like some months ago, I think Glassnode report, more holders are not selling at $20000, this would likely be a strong support this time. But if wrong, any loss would be an unrealized loss if the bitcoin is not sold, holding for like 2 years would be a good strategy to make significant profit in my opinion.

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I'm indifferent on the outcome. We are about 4 months till 2023, and the price action in such a small window, does not factor much into the long term chart.

If I'm forced to pick a yes/no option. I'll go with No, as I do not expect us to break such support levels anytime soon.

EarnOnVictor

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A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

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